2018 (3) TMI 1902

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.... ORDER PER R.S. SYAL, VP: These two cross appeals - one by the assessee and the other by the Revenue - are directed against the order passed by the CIT(A) on 01.08.2014 in relation to the assessment year 2010-11. 2. The only issue raised by the Revenue as well as the assessee in their respective appeals is against reduction/sustenance of disallowance u/s 14A of the Income-tax Act, 1961 (herei....

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....is an admitted position that the assessee earned exempt dividend income of Rs. 4,30,621/- as has been recorded on page 2 of the assessment order. The Hon'ble jurisdictional High Court in Principal CIT vs. Empire Package Pvt. Ltd. (2016) 286 CTR 457 (P&H), considered the following question raised by the Revenue :- "Whether in the facts and circumstances of the case, the Hon'ble ITAT is jus....